South Korea’s National Security Office convened an emergency review on October 28 after a series of cybersecurity incidents involving cryptocurrency exchange Bithumb and Daishin Securities. The meeting, chaired by third deputy national security adviser Song Ki-ho, was called to coordinate the government’s response and examine measures intended to prevent further harm.
Officials from the Financial Services Commission, Ministry of Science and ICT, Personal Information Protection Commission, Financial Security Institute and Korea Internet and Security Agency attended. Their review extended beyond the two named companies to banks, securities firms, insurers, online investment-linked finance providers and the virtual asset sector.
Government review spans the financial sector
A central concern was that information obtained in the incidents could be reused in smishing messages or voice phishing calls. Such scams can exploit knowledge associated with a real financial service to make fraudulent approaches appear credible, exposing customers to losses even after the initial intrusion has been contained. Authorities urged the public to remain cautious about calls and messages claiming to come from financial companies.
The participating agencies also discussed stronger checks on external connection servers and internal business systems that could provide routes for similar attacks. They agreed to share investigation findings and attack information in real time while maintaining a joint response framework. The available reporting did not specify how many people were affected, what information was exposed or whether the incidents used the same attack method.
- Meeting chair
- Third deputy national security adviser Song Ki-ho
- Sectors reviewed
- Banking, securities, insurance, online investment-linked finance and virtual assets
- Priority response
- Preventing smishing, voice phishing and similar secondary harm
Song said cybersecurity incidents in the financial sector directly affect personal assets and confidence in financial markets. He called for rapid action to stop secondary damage and asked agencies to strengthen inspections and support for smaller financial companies whose limited security resources could leave them vulnerable.
Stronger checks and unanswered questions
The National Security Office plans to continue checking whether agencies and financial institutions carry out the agreed follow-up measures. It will also consider additional action if the situation changes, while investigators and regulators continue examining the incidents and sharing relevant findings.